MassChallenge Overview
MassChallenge is a $1M global startup competition and accelerator designed to catalyze the launch and success of high-growth, high-impact new businesses. MassChallenge is a 501(c)(3) (nonprofit) and does not take equity from startups or place any restrictions on winners.
President Obama honored MassChallenge in January of 2011 as one of the nation's best organizations for supporting high-growth entrepreneurs, and MassChallenge was the youngest inaugural member of the Startup America Partnership. The 111 startups supported in the 2010 MassChallenge accelerator raised over $100M in outside funding and created 500 new jobs in under 12 months.
The second annual MassChallenge Competition launched on March 7, 2011 and received 733 entries by the application deadline on April 11. Ten to twenty winners will be announced on October 24 2011 and will split $1M in cash awards. The competition is open to anyone in the world, with any new startup, in any industry. Physical activities are currently based in Massachusetts where innovation resources are highly concentrated -- but there is no requirement for teams to create a physical presence in Massachusetts. Every entrant receives training, feedback, PR and networking support via expert volunteers from partner organizations. 125 of the highest-potential startups receive 3+ months of intensive mentorship and other free resources, including office space and targeted introductions to customers and funding sources. The very best startups are identified by expert judges to receive cash awards toward launching their businesses along with enhanced PR and privileged access to top investors seeking to place seed capital to work in high-growth firms.
MassChallenge is an ideal means for America to harness and showcase the expertise and collaborative strength of our universities, investors, lawyers, entrepreneurs and businesses — after all, we've been providing revolutionary ideas since 1776.
Selection of Committed Supporters
- Barack Obama, US President
- Deval Patrick, Massachusetts Governor
- Gregory Bialecki, Massachusetts Secretary of Housing and Economic Development
- Desh Deshpande, Founder Sycamore Networks, serial entrepreneur, avid coach for young entrepreneurs
- Josh Boger, Founder of Vertex Pharmaceuticals
- Steve Case, Chairman & CEO Revolution, Co-Founder AOL, Chairman The Case Foundation
- Thomas M. Menino, Mayor of Boston
- Carl Schramm, President and CEO, Kauffman Foundation
- Amy Stursberg, Executive Director, The Blackstone Charitable Foundation
- Leonard Schlesinger, President Babson College
- Susan Hockfield, President Massachusetts Institute of Technology
- Dennis Berkey, President Worcester Polytechnic Institute
- Jack Wilson, President University of Massachusetts
- Robert Brown, President Boston University
- Michael Greeley, Chair of NE Venture Capital Association, Founder of Flybridge Partners
- Hemant Taneja, Co-Chairman NE Clean Energy Council, Managing Director General Catalyst Partners
- Rich Kivel, Chairman MIT Enterprise Forum
- Ken Morse, Founding Managing Director, MIT Entrepreneurship Center
- Bill Aulet, Managing Director, MIT Entrepreneurship Center
- Joe Hadzima, Founding Judge MIT $100K Entrepreneurship Competition
- Mike Roberts, Executive Director Arthur Rock Center for Entrepreneurship (Harvard Business School)
- Sara Spalding, Senior Director, Microsoft New England Research and Development Center
- Gus Weber, Entrepreneur in Residence, Polaris Partner's Dogpatch Labs
- Colin Angle, Chairman of the Board, CEO and Co-Founder iRobot
- Sophie Vandebroek, CTO Xerox and President Xerox Innovation Group
- Tim Rowe, Founder and CEO Cambridge Innovation Center
